INDUS Realty Trust, Inc. (NASDAQ:INDT) Short Interest Down 38.9% in March

INDUS Realty Trust, Inc. (NASDAQ:INDTGet Rating) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 99,300 shares, a drop of 38.9% from the March 15th total of 162,400 shares. Based on an average trading volume of 28,600 shares, the short-interest ratio is presently 3.5 days.

INDUS Realty Trust stock traded up $0.72 during midday trading on Friday, reaching $73.33. 24,551 shares of the company’s stock were exchanged, compared to its average volume of 34,002. INDUS Realty Trust has a 52 week low of $59.50 and a 52 week high of $82.94. The firm has a market cap of $747.23 million, a price-to-earnings ratio of 60.60 and a beta of 0.87. The stock’s 50-day simple moving average is $74.51 and its 200 day simple moving average is $74.51.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Thursday, March 31st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Wednesday, March 30th. INDUS Realty Trust’s dividend payout ratio is presently 52.89%.

Separately, BTIG Research lifted their price target on INDUS Realty Trust from $74.00 to $91.00 in a report on Tuesday, January 25th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, INDUS Realty Trust has an average rating of “Buy” and an average target price of $79.57.

In related news, major shareholder Ccp Sbs Gp, Llc acquired 40,654 shares of the firm’s stock in a transaction dated Friday, January 28th. The stock was bought at an average price of $75.11 per share, for a total transaction of $3,053,521.94. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders bought a total of 289,680 shares of company stock valued at $21,805,063 in the last 90 days. 18.70% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Metropolitan Life Insurance Co NY boosted its holdings in shares of INDUS Realty Trust by 9.5% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 1,620 shares of the company’s stock worth $131,000 after acquiring an additional 141 shares during the period. Citigroup Inc. raised its position in shares of INDUS Realty Trust by 142.2% in the third quarter. Citigroup Inc. now owns 499 shares of the company’s stock valued at $35,000 after buying an additional 293 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of INDUS Realty Trust in the fourth quarter valued at approximately $40,000. Daiwa Securities Group Inc. raised its position in shares of INDUS Realty Trust by 66.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,857 shares of the company’s stock valued at $151,000 after buying an additional 743 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of INDUS Realty Trust by 33.4% in the fourth quarter. California State Teachers Retirement System now owns 3,124 shares of the company’s stock valued at $253,000 after buying an additional 782 shares in the last quarter. Institutional investors own 58.27% of the company’s stock.

About INDUS Realty Trust (Get Rating)

INDUS Realty Trust, Inc is a real estate business principally engaged in developing, acquiring, managing and leasing industrial/warehouse properties. INDUS owns 41 buildings totaling approximately 4.6 million square feet (4.2 million of which is industrial/warehouse space) in Connecticut, Pennsylvania, North Carolina and Florida in addition to over 3,400 acres of undeveloped land.

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